NASDAQ BOTTOM IS IN!!!
Updated
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The bottom is in on the Nasdaq. We initially saw a large move up with no down weeks in the NDX from mid-July till September 2, then a quick move down in an Elliot wave, a, b, c pattern, which has now bottomed out. Whenever you see a large move in one direction with a large retracement in another, then you look for a horizontal triangle also often called an equilibrium, where you see a choppy sideways range. From here till the election we will see a choppy sideways market, before a decisive break in late November/early December.
The best way to trade these markets is with styles of premium selling and options spread trading.
If you're interested in a more in-depth analysis along with the exact stikes and expirations, and position sizing, I'll link below to a newsletter I wrote that talks about all this.
The bottom is in on the Nasdaq. We initially saw a large move up with no down weeks in the NDX from mid-July till September 2, then a quick move down in an Elliot wave, a, b, c pattern, which has now bottomed out. Whenever you see a large move in one direction with a large retracement in another, then you look for a horizontal triangle also often called an equilibrium, where you see a choppy sideways range. From here till the election we will see a choppy sideways market, before a decisive break in late November/early December.
The best way to trade these markets is with styles of premium selling and options spread trading.
If you're interested in a more in-depth analysis along with the exact stikes and expirations, and position sizing, I'll link below to a newsletter I wrote that talks about all this.
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